ROCK HILL, SC / ACCESSWIRE / August 13, 2024 / The deadline for filing 990 Series returns is approaching on August 15, just two days away. Nonprofits included in this deadline must complete and submit their returns to the IRS. Timely filing is essential for nonprofits to remain compliant and maintain trust within their communities. Failure to meet this deadline could lead to significant consequences, including the potential loss of tax-exempt status and damage to the organization's reputation.
Amid their mission and responsibilities, fulfilling this tax obligation might seem challenging for nonprofits. Tax990, an IRS-authorized e-file provider, simplifies the annual reporting process for both nonprofits and tax professionals. With a user-friendly interface, comprehensive features, and dedicated customer support, Tax990 sets a high standard for helping nonprofits maintain tax compliance with the IRS.
Which Nonprofits are Required to Meet the August 15th deadline?
As directed by the IRS, Nonprofit organizations are required to submit their 990 forms by the 15th day of the fifth month following the end of their respective tax year.
August 15th is the deadline for organizations operating in a fiscal year starting on April 1st and ending on March 31st. This deadline also applies to organizations that have obtained an extension through Form 8868, where the original deadline ended on February 15, 2024.
Which Forms Does Tax990 Support?
Tax990 supports all required forms for nonprofit organizations and other essential filings.
Form 990-N: Specifically developed for small nonprofit organizations with gross receipts below $50,000.
Form 990-EZ: Intended for organizations with gross receipts under $200,000 and total assets under $500,000.
Form 990: Standard 990 form designed for organizations with annual gross receipts equal to or greater than $200,000 or total assets equal to or greater than $500,000.
Form 990-PF: Designed specifically for private foundations, regardless of gross receipts or assets.
CA Form 199: Mandatory for nonprofits operating in California to ensure compliance with state regulations.
Form 8868: Used to request a 6-month automatic extension for filing Form 990 and other nonprofit tax returns.
Form 1120-POL: Essential for political organizations to fulfill their tax filing obligations.
Form 8038-CP: Used by issuers of tax-exempt bonds to request a credit for the interest payments they make.
Tax990 - A Reliable Solution for Meeting the Deadline
Tax990 is a platform tailored with a range of features to help simplify and streamline the filing process for nonprofits.
Tax990 offers key features for simplified last-minute filing.
Filing Methods:
Whether the client is experienced or new to 990 filings, Tax990 offers flexible filing methods for both.
Interview-style filing method: Clients can answer questions about their organization and finances, and Tax990 generates the form for them, facilitating the filing process.
Form-based filing method: Clients can manually enter information onto digital forms, making this ideal for seasoned filers familiar with traditional paper forms.
Automatic Inclusion of Schedules:
After completing the form, Tax990 incorporates relevant schedules based on the provided information at no additional cost.
Internal Audit Check:
The tax990 system includes an internal audit check based on IRS instructions, reviewing the forms for errors. If errors are detected, instant notifications and guidance will be provided, ensuring accuracy before submission to the IRS.
Free Retransmission of Rejected Returns:
If the IRS rejects a 990 return, Tax990 allows its clients to correct errors and retransmit the returns without additional charges, ensuring seamless compliance.
Exclusive Features for Tax Professionals:
Tax990 offers distinctive features tailored to the specific needs of tax professionals filing for their clients. These features enable efficient management of both teams and clients from a single platform. Key functionalities include:
Team Management: Tax professionals can invite their teams, assign filings, and track progress.
Client Management: They can handle filings for multiple clients and secure their approval before submission.
E-signing Options: They can quickly obtain their clients' e-signatures on Form 8453-TE and 8879-TE, ensuring convenience and compliance.
When asked about the upcoming deadline, Agie Sundaram, the CEO and Co-founder of SPAN Enterprises (parent company of Tax990), responded, "As the filing deadline approaches, it's crucial for nonprofits to stay compliant and avoid potential penalties. At Tax990, we're committed to simplifying the filing process, providing nonprofits with the tools they need to submit accurate returns and maintain the trust of their communities."
Tax-exempt organizations and tax professionals can start their 990 e-filing journeys today by creating a free account at www.Tax990.com.
About Tax990
Tax 990 is the premier, IRS-authorized e-file provider of nonprofit tax forms. Tax990 provides solutions for nonprofits that are required to file Form 990-N, 990-EZ, 990, 990-PF, 990-T, California Form CA-199, 8868, 1120-POL and 8038-CP with the IRS. With advanced features and affordable pricing, the goal of Tax990 is to help nonprofits file easily, so they can continue to keep doing good.
About SPAN Enterprises
Based in Rock Hill, South Carolina, SPAN Enterprises has been developing industry-leading software solutions for IRS e-filing and business management tools for over a decade.
The SPAN Enterprises portfolio of products includes TaxBandits, Tax990, ACAwise, ExpressExtension, 123PayStubs, and TruckLogics.
For all media inquiries, please contact Stephanie Glanville, Content Writer, at stephanie@spanenterprises.com.
SOURCE: SPAN Enterprises
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